Reported data shows that ICE – Europe inventories continue to decline, supporting coffee futures prices to maintain their upward momentum…
At the end of the first trading session of the week, Robusta coffee prices on the ICE Europe – London exchange continued to increase for the third session. The May delivery term increased by 46 USD, to 3,189 USD/ton and the July delivery term increased by 48 USD, to 3,105 USD/ton, quite good increases. Trading volume is very high above average.
Similarly, the price of Arabica coffee on the ICE US – New York floor has the same increasing trend. May delivery futures increased by 3.60 cents, to 186.90 cents/lb and July delivery futures increased by 3.10 cents, to 184.50 cents/lb, quite good increases. Trading volume is very high above average.
The price of green coffee in the Central Highlands provinces increased by 1,000 – 1,200 VND, fluctuating in the range of 86,200 – 87,100 VND/kg.
US economic indicators did not meet expectations, the market feared that the world’s leading economy was on the threshold of recession. DXY decreased by 0.14%, pushing prices of many commodity exchanges to reach new peaks. Gold prices set an all-time record. Robusta coffee prices reached their highest level in 3 weeks. Arabica coffee prices returned to an upward trend when the weather report in Brazil last week only had rainfall equivalent to 50% of the historical average, threatening that coffee output in the 2024/2025 crop year will not meet expectations. Speculation that the Fed may delay cutting interest rates if the upcoming US economic indicators do not show clear improvement is also a short-term concern of investors when pouring capital into commodity exchanges in general. .
Yesterday, Monday March 4, data reported by ICE – Europe showed that Robusta coffee inventories decreased by 600 tons, or 2.48% compared to the previous day, registering at 23,590 tons ( equivalent to 393,167 bags, 60 kg bags), mainly Conilon Robusta coffee from Brazil.
English (giacaphe.com)
